Jerry's Phone Service is a monopoly. Select the items that describe the price and quantity chosen by Jerry.will result in efficient use of resources
will result in equilibrium price
will maximize profits
will cause shortage of goods
Answers
The price and quantity chosen by Jerry will likely maximize profits, as he has no competitors to worry about and can set prices at the level that maximizes revenue. Therefore, option A is correct.
What is monopoly?
Monopoly is a market structure in which a single company or entity has exclusive control over the production and distribution of a particular product or service, with no close substitutes. This means that the monopolist has significant market power and is able to set prices higher than the competitive level, resulting in higher profits.
Based on the fact that Jerry's Phone Service is a monopoly, it is possible to conclude that:
- The price and quantity chosen by Jerry will likely maximize profits, as he has no competitors to worry about and can set prices at the level that maximizes revenue. Therefore, option C is correct.
- It is not possible to determine whether the price and quantity chosen by Jerry will result in efficient use of resources, as this would depend on the specific circumstances of the market and the resources involved. Therefore, option A is not necessarily correct or incorrect.
- It is not possible to determine whether the price and quantity chosen by Jerry will result in an equilibrium price, as this would depend on the demand for his service and his willingness to adjust prices in response to changes in demand. Therefore, option B is not necessarily correct or incorrect.
- It is not likely that the price and quantity chosen by Jerry will cause a shortage of goods, as he has a monopoly and is able to control the supply of his service. Therefore, option D is incorrect.
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A monopoly is a market structure where one seller has a unique product that is on the market. There is no competition and there are no perfect substitutes from the product. The seller holds all of the power in pricing the item due to no competition. Based on the definition the price and quantity chosen by Jerry will efficiently use all of the resources.
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You are buying a house that is priced at $200,000. You need to make a 10% down payment, and closing costs will be 5%. Which of the following is/are true? I. The amount of the loan will be $200,000 II. Closing costs will be $10,000 III. Closing costs will be $9,000 IV. You will need to bring $29,000 total to the bank in order to get the loan.
Privacy concerns dictate that _______.a. You always enter mass email addresses into the BCc b. Memorandums be sent without a From header. c. Business letters should be sent from a Post Office d. E-mails are deleted after they are sent
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Samantha has been asked to join a task force that is charged with boosting organizational productivity. First, she was asked to jot down ideas on how to increase productivity, and after that, the group met to discuss everyone’s ideas and come up with solutions together based on those suggestions. Samantha’s taskforce best exemplifies which creative problem solving method?A) Traditional brainstormingB) Electronic brainstormingC) Nominal group techniqueD) Groupthink
b. multidomestic
c. transnational
d. international
Answers
Answer:
d. international
Explanation:
Based on the information provided within the question it seems that GoodLife Inc. most likely pursues an international strategy. This is a business strategy in which the company's subsidiaries which are located internationally act completely independently as if they were local company's, with very little intervention from the parent company. Which is what GoodLife Inc seems to be using since they sell highly priced homes to consumers in El Verdad as well as to consumers in other countries.
B. firms use the best technology available to produce the good.
C. firms produce the goods that consumers desire most.
D. the marginal cost of production is minimized.
Answers
Answer:
A. the output is being produced at the lowest possible cost.
Explanation:
Productive efficiency is a situation where the economy or economic system can not produce any more goods without sacrificing the production of other goods. Consumers benefit from these cost-efficient methods of production. Also, essentially, productive efficiency means that the product is being produced with as few scarce resources as possible thereby enabling society to spread its scarce resources across more products.
Final answer:
Productive efficiency refers to a scenario in the production process where output is generated at the lowest possible cost. It does not necessarily imply utilizing the best technology, producing the most desired goods, or minimal marginal cost of production.
Explanation:
If we talk about productive efficiency, it typically signifies a scenario in the market where goods produced at the lowest possible cost. It is a situation in which a entity cannot produce more of one good without sacrificing production of another good and is directly linked with the concept of a Production Possibility Frontier (PPF). Therefore, the correct answer is A. the output is being produced at the lowest possible cost.
It's crucial to note that while this definition of productive efficiency refers to the lowest cost, it does not necessarily imply using the best technology available (B), producing the goods consumers desire most (C), or minimizing the marginal cost of production (D).
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Answers
Increasing regulations on wet marketsin China may have prevented COVID-19 by "preventing transmission from the intermediate host to humans".
Wet markets, where live animals are sold for consumption, are believed to have played a role in the emergence of COVID-19. In these markets, different species of animals are often kept in close proximity, creating opportunities for viruses to jump between species and mutate into new strains that can infect humans.
By regulating and monitoring wet markets more closely, China could reduce or eliminate these opportunities for zoonotic transmission, potentially preventing future outbreaks of novel viruses like COVID-19.
While the exact origin of COVID-19 remains under investigation, taking steps to prevent zoonotic transmission from wet markets is an important measure to reduce the risk of future pandemics.
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Company? what is joint stock company?
Answers
Answer:
a company whose stock is owned jointly by the shareholders
Explanation:
that is joint stock company
C. $1,525,000
D. $700,000
Answers
Answer:
The company's revenue for the year is $1,615,000.
The correct option is A. $1,615,000.
Explanation:
Given:
Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common stock, recorded expenses of $1,500,000, and paid dividends of $90,000.
If Patterson’s ending retained earnings was $350,000.
Now, to find the company's revenue for the year.
Opening Retained earnings = $325,000.
Common stock = $500,000.
Recorded expenses = $1,500,000.
Paid dividends = $90,000.
Closing Retained earnings = $350,000.
Now, to get the revenue of the company we put formula:
Revenue = (Recorded expenses + paid dividends + closing Retained earnings) - opening Retained earnings
Therefore, the company's revenue for the year is $1,615,000.
The correct option is A. $1,615,000.
B. Slide presentations are difficult to use, so you will impress your audience just by using one.
C. Slide presentations are familiar to most audiences, and will help them focus on the content.
D. Slide presentations are not often used in business, so using one will surprise your audience and keep them guessing.
Answers
Answer:
C. Slide presentations are familiar to most audiences, and will help them focus on the content.
Explanation:
Slide shows are tools that allow you to synthesize the subject by points and explain the main idea. This is for the audience to get used to the subject and also for the speaker to remember each item and talk about the content. In addition, it is possible to introduce graphs, tables and images that act as a more didactic way to visualize the subject, which translates into a greater focus. Finally, slides are used in virtually every organization, school, and course, suggesting that people are already used to following this kind of presentation, which makes the talk simpler for you and for them.
Slide presentations are familiar to most audiences, and will help them focus on the content. Tus, the correct option is C.
What is Slide presentation?
A slide presentation is a visual communication tool used to convey information, ideas, or data to an audience. It typically consists of a series of slides containing text, images, charts, graphs, and other visual aids that are presented in a logical sequence.
The purpose of a slide presentation can vary depending on the context. It may be used to inform, persuade, educate, or entertain an audience. Slide presentations are commonly used in business settings for meetings, sales pitches, and training sessions, as well as in academic settings for lectures and presentations.
When creating a slide presentation, it's important to keep the audience in mind and tailor the content and visuals to their needs and interests. The presentation should have a clear structure and flow, with each slide building on the previous one.
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